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Did the economic adjustment programmes deliver wage flexibility in Greece?

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  • Laliotis, Ioannis

Abstract

After a period of sequential economic adjustment programmes, recent data show that wages remain irresponsive to local labour market conditions in Greece. Although there is evidence of a weak crosssectional wage curve, it disappears when individual fixed effects are introduced. Despite the extensive labour market reforms, more emphasis to the decentralisation of the wage setting process is needed.

Suggested Citation

  • Laliotis, Ioannis, 2019. "Did the economic adjustment programmes deliver wage flexibility in Greece?," LSE Research Online Documents on Economics 102653, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:102653
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    File URL: http://eprints.lse.ac.uk/102653/
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    References listed on IDEAS

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    1. George Alogoskoufis, 2019. "Greece and the Euro: A Mundellian Tragedy," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 136, Hellenic Observatory, LSE.
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    10. Helen Louri & Petros Migiakis, 2019. "Financing economic activity in Greece: Past challenges and future prospects," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 135, Hellenic Observatory, LSE.
    11. Vassilis Monastiriotis & Angelo Martelli, 2021. "Crisis, Adjustment and Resilience in the Greek Labor Market: An Unemployment Decomposition Approach," International Regional Science Review, , vol. 44(1), pages 85-112, January.
    12. Pagoulatos, George, 2018. "Greece after the bailouts: assessment of a qualified failure," LSE Research Online Documents on Economics 91957, London School of Economics and Political Science, LSE Library.
    13. Georgiadis, Andreas & Kaplanis, Ioannis & Monastiriotis, Vassilis, 2018. "The impact of minimum wages on wages and employment: evidence from Greece," LSE Research Online Documents on Economics 91959, London School of Economics and Political Science, LSE Library.
    14. Spanou, Calliope, 2019. "Competing frames, domestic discretion and uneven outcomes: administrative reform in greece under the crisis," LSE Research Online Documents on Economics 102649, London School of Economics and Political Science, LSE Library.
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    Cited by:

    1. Chisiridis, Konstantinos & Mouratidis, Kostas & Panagiotidis, Theodore, 2022. "The north-south divide, the euro and the world," Journal of International Money and Finance, Elsevier, vol. 121(C).

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    More about this item

    Keywords

    wage curve; reforms; Greece;
    All these keywords.

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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